- Oracle Corporation has filed a lawsuit against Crypto Oracle for trademark infringement allegations.
- The two firms initially faced a legal battle for similar reasons in 2019.
While the crypto market is contending with its recent downward movement, the sector has seen diminished regulatory drama this week. This past day has seen the Donald Trump administration planning to extend the role of CFTC within the crypto industry. Notably, the Oracle Corporation has stirred market attention on the regulatory end.
The corporation has resumed its lawsuit against the crypto firm Oracle LLC. According to the Bloomberg Law report, the firm has accused the cryptocurrency firm and its owner Mr.Kerner of trademark infringement and dilution. They further remarked that it was a re-filing of the previous 2019 lawsuit.
In the court filing, Oracle Corporation stated:
“Oracle is forced to once again to seek relief in this Court in order to obtain the Court’s assistance in enforcing the agreement and injunction and recovering the damages that Defendants previously agreed were warranted.”
Moreover, the 2019 lawsuit ended with a Crypto Oracle paying a settlement fee. However, the official statement says that the refiling was due to the crypto firm’s continued usage of the Oracle trademark. Oracle made the filing in the USA’s California Federal court and is demanding ‘injunctive relief and damages against the defendants’.
Is Crypto Oracle the First to Breach US Trademark Laws?
Over the past years, several firms have aroused similar lawsuits. For instance, recently, in 2023, crypto exchange Huobi’s founder Li Lin sued the firm for breaching trademarks. Other instances have also drawn market attention to the use of trademarks and identical names.
One prominent such lawsuit was Nanolabs against Coinbase. Nanolabs, in February 2023, sued the global crypto exchange for allegedly infringing the trademark in its Bitcoin and Ether futures contracts.
In a space that is striving towards decentralization and technical democracy, do trademarks and identical names matter? This relates to a similar perspective – do crypto firms find trademark infringement highly problematic or are ready to overlook it?
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